SURF.Finance Partnering with 1Hive on Polygon
SURF.Finance is proud to announce a partnership with 1Hive on the Polygon network. Originating on the xDAI STAKE network, 1Hive is a thriving community, building a decentralized economy centering around its primary currency, Honey. Anyone can earn Honey by contributing to the 1Hive DAO.
1Hive recently added a dashboard that includes a wallet (allowing users to see all their assets), a farming protocol for their farming incentive token COMB, and more. For a more detailed explanation, please see 1Hive Medium article Introducing Honeycomb, with Token Farming.
The xDAI STAKE network was the first cross-chain expansion for SURF.Finance, where SURF liquidity was locked in SURF-xDAI HNS Tokens (Honeyswap liquidity pool tokens). The rSURF (reflectiveSURF) token is also on xDAI STAKE with liquidity in Honeyswap.
Like SURF.Finance, 1Hive is expanding its protocol to Polygon. The 1Hive team was looking for partners in this endeavor, and reached out to SURF.Finance. In meeting with members of the 1Hive team, we were delighted at how well our core values of community and long-term sustainable growth aligned. We also found an opportunity for mutually beneficial integrations into one another’s protocols on Polygon.
pCOMB Farming on Polygon
Note: pCOMB is COMB (1Hive’s farming incentive token) on Polygon. The xDAI STAKE version of COMB is xCOMB.
1Hive was seeking partners to help them bootstrap Honeyswap liquidity on Polygon. SURF.Finance assisted with this by using AUM assets to purchase $50,000 in pCOMB-WETH HNS tokens, helping 1Hive increasing liquidity for their DEX on Polygon. The pCOMB-WETH HNS tokens purchased by SURF.Finance are also staked in 1Hive’s farm, earning additional pCOMB rewards.
In exchange for our helping bootstrap Honeyswap liquidity on Polygon, 1Hive has added a SURF-WAVE HNS pool that earns pCOMB to their farm. This brings additional utility and value to both SURF and WAVE tokens.
To create SURF-WAVE HNS liquidity pool tokens, be sure your wallet is connected to Polygon network and go here.
Once your SURF-WAVE HNS liquidity pool tokens are create, just go to the 1Hive farming page here, and start farming.
pCOMB on polyWAVE
Adding a pCOMB pool to polyWAVE does several things benefiting both protocols: 1) it reduces sell pressure by locking up pCOMB; 2) it increases pCOMB utility; 3) it sends pCOMB to the polyWAVE vault via the staking/unstaking fee; and 4) it gives the SURF.Finance AUM another place to earn with its farmed pCOMB rewards.
More to Come
We had a great meeting with the 1Hive team, leading to the discovery of some rogue waves. We are currently exploring, and will be likely be SURFing, said rogue waves. So stay tuned for more to come from this budding relationship.